JK Tyre firms up on CCI nod for acquiring Cavendish Industries

Competition Commission of India approved the proposed acquisition of Cavendish Industries

Shares of JK Tyre & Industries were up nearly 2% at Rs 82 on the Bombay Stock Exchange after the company said that the Competition Commission of India has approved the proposed acquisition as per its application dated October 12, 2015.

The Competition Commission of India in their meeting held on February 18, 2016 approved the proposed acquistion of Cavendish Industries Ltd, the company said in a release.

The stock opened at Rs 82 and touched a high of Rs 82.20. At 11:50am, over 295,000 shares were traded on both the stock exchanges.